New Delhi, Oct. 30 -- Manufacturers of large appliance makers will see revenue growth moderate to 5-6 percent this fiscal on a high base of 16 percent run-up logged up fiscal, a CRISIL report said today.
The Credit Rating Information Services of India Limited (CRISIL) report said a sharp cut in demand for cooling products during the first half due to the early onset of monsoon would only see a partial lift-up led by goods and services tax (GST) cut on AC and large TV coming in just before the festive season.
The rating agency noted moderating revenue growth, along with intensifying competition and dearer raw materials that will also shave off 20-40 basis points (bps) from operating margins.
Shounak Chakravarty, Director of CRISIL Ratings...